Thrivent Financial for Lutherans Raises Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Thrivent Financial for Lutherans increased its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 33.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,458 shares of the company’s stock after purchasing an additional 40,447 shares during the quarter. Thrivent Financial for Lutherans owned 0.12% of Relay Therapeutics worth $1,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RLAY. China Universal Asset Management Co. Ltd. increased its holdings in Relay Therapeutics by 65.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock valued at $182,000 after buying an additional 10,157 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Relay Therapeutics in the 3rd quarter worth approximately $75,000. Allspring Global Investments Holdings LLC increased its stake in Relay Therapeutics by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock valued at $292,000 after purchasing an additional 2,547 shares in the last quarter. SG Americas Securities LLC acquired a new position in Relay Therapeutics during the third quarter worth $390,000. Finally, Algert Global LLC boosted its position in Relay Therapeutics by 57.9% during the second quarter. Algert Global LLC now owns 476,888 shares of the company’s stock worth $3,109,000 after purchasing an additional 174,953 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $4.70 on Monday. Relay Therapeutics, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $12.14. The company has a market capitalization of $786.70 million, a PE ratio of -1.80 and a beta of 1.67. The stock has a fifty day moving average of $6.06 and a two-hundred day moving average of $6.86.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) earnings per share. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RLAY. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Barclays increased their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Stifel Nicolaus restated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Insider Activity

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company’s lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.